BITCOIN PRICE: SANTA RALLY BEGINS?

NEW YORK (InsideBitcoins) – At midnight a bell rang. Perhaps more precisely, at 12:49 a.m. EST, a bell rang that saw bitcoin spring out of the gate and gain more than $10, rising from $320.61 to $331.81 in less than an hour, according to Winkdex. That gain has held most of the day. Just after 4 p.m. in New York this Monday afternoon, the Inside Bitcoins Price Tracker is reporting bitcoin over $332.
Several spikes in trading volume have fueled the bitcoin price as the cryptocurrency has attained its highest level since overnight trading last Wednesday. However, analysts say the digital currency will need to breach the $340 resistance level before gaining legs enough for a sustained move upward.

This post was published at Inside Bitcoins on Dec 22, 2014.